\nStratasys Ltd. (Nasdaq: SSYS) and CollPlant Biotechnologies (Nasdaq: CLGN) today announced a joint development and commercialization agreementto collaborate on the development of a solution to bio-fabricate human tissues and organs using Stratasys\u2019 P3 technology-based bioprinter and CollPlant\u2019s rh-Collagen-based bioinks. The first project focuses on the development of an industrial-scale solution for CollPlant’s regenerative breast implants program.<\/p>\n
This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20230404005729\/en\/<\/a><\/p>\n Human size breast implant, printed with Stratasys P3 3D printing technology and CollPlant’s bioink. (Photo: Business Wire)<\/p>\n<\/div>\n \nStratasys is a leader in polymer 3D printing solutions. CollPlant is a pioneering regenerative and aesthetics medicine company developing innovative technologies and products based on its plant-based collagen for tissue regeneration and organ manufacturing.<\/p>\n \nThe new bioprinter, based on Stratasys\u2019 precise P3\u2122<\/sup> 3D printing technology in combination with CollPlant’s flagship bioinks, will enable the production of CollPlant\u2019s state of the art breast implants, which are being designed to regenerate an individual\u2019s natural breast tissue without eliciting immune response, providing a potentially revolutionary alternative for both aesthetic and reconstructive procedures.<\/p>\n \nCurrently the global breast implant market is estimated to be $2.6 billion,1<\/sup> while breast reconstruction and augmentation procedures represent the second most common plastic surgery procedure performed worldwide today2<\/sup>. The most common breast augmentation or reconstruction procedures today are based on synthetic silicone breast implantations, an artificial substitution for natural regenerated tissue with risks of complications.<\/p>\n \nUnder the agreement, both companies have agreed to cross-promote each other\u2019s bioprinting products. Stratasys\u2019 bioprinter will be offered to customers together with CollPlant\u2019s bioinks, and similarly Stratasys\u2019 bioprinter will be offered to CollPlant\u2019s business partners and customers.<\/p>\n \n\u201cThrough this partnership with CollPlant, we have an important opportunity to transform healthcare with bioprinting to improve the lives of patients undergoing breast augmentation or reconstruction procedures,\u201d said Stratasys CEO Dr. Yoav Zeif. \u201cThis agreement is well-aligned with our strategy to deliver complete solutions for high-growth industry applications with our ecosystem of partners, and the production scale and precision 3D printing capabilities of Stratasys\u2019 P3 Programmable Photopolymerization technology are a particularly strong fit for bioprinting applications. We believe that partnering with CollPlant will enable us to accelerate the industrialization of bioprinting for regenerative medicine, and we look forward to collaborating towards the successful commercialization of CollPlant\u2019s novel regenerative breast implants and beyond.\u201d<\/p>\n \nYehiel Tal, CEO of CollPlant, commented, \u201cStratasys is leading in additive manufacturing and we are excited to collaborate with them on this transformative initiative. The P3 technology allows printing with high resolution and process control, and we believe that the combined, pioneering technologies of both companies will streamline the development and production process so that we have the most efficient means to produce our regenerative breast implants and other potential tissues and organs. We believe that our rhCollagen-based regenerative implant has the potential to overcome the challenges of existing breast procedures that use silicone implants or autologous fat tissue transfer.\u201d<\/p>\n \nIn January 2023, CollPlant announced that it successfully completed a large-animal study for its 3D bioprinted regenerative breast implants. The preclinical study demonstrated progressive stages of tissue regeneration after three months, as highlighted by the formation of maturing connective tissue and neovascular networks within the implants, with no adverse events reported. Based on these positive results, CollPlant is planning to initiate a follow-up, large-animal study in the second half of 2023 using commercial-size implants to support subsequent human studies and future product commercialization.<\/p>\n \n1 Breast Implant Market; Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028, IMARC Group<\/p>\n \n2 ISAPS International Survey on Aesthetic\/Cosmetic Procedures, 2021<\/p>\n About Stratasys<\/b><\/p>\n \nStratasys is leading the global shift to additive manufacturing with innovative 3D printing solutions for industries such as aerospace, automotive, consumer products, healthcare, fashion and education. Through smart and connected 3D printers, polymer materials, a software ecosystem, and parts on demand, Stratasys solutions deliver competitive advantages at every stage in the product value chain. The world\u2019s leading organizations turn to Stratasys to transform product design, bring agility to manufacturing and supply chains, and improve patient care.<\/p>\n \nTo learn more about Stratasys, visit www.stratasys.com<\/a>, the Stratasys blog<\/a>, Twitter<\/a>, LinkedIn<\/a>, or Facebook<\/a>. Stratasys reserves the right to utilize any of the foregoing social media platforms, including the Company\u2019s websites, to share material, non-public information pursuant to the SEC\u2019s Regulation FD. To the extent necessary and mandated by applicable law, Stratasys will also include such information in its public disclosure filings.<\/p>\n \nStratasys and P3 are trademarks or registered trademarks and the Stratasys signet is a trademark of Stratasys Ltd. and\/or its subsidiaries or affiliates. All other trademarks are the property of their respective owners.<\/p>\n About CollPlant<\/b><\/p>\n \nCollPlant is a regenerative and aesthetic medicine company focused on 3D bioprinting of tissues and organs, and medical aesthetics. CollPlant’s products are based on its recombinant human collagen produced with its proprietary plant based genetic engineering technology. These products address indications for the diverse fields of tissue repair, aesthetics, and organ manufacturing, and are ushering in a new era in regenerative and aesthetic medicine.<\/p>\n \nIn 2021 CollPlant entered into a development and global commercialization agreement for dermal and soft tissue fillers with Allergan, an AbbVie company, the global leader in the dermal filler market.<\/p>\n \nFor more information, visit http:\/\/www.collplant.com<\/a>.<\/p>\n Safe Harbor for Forward-Looking Statements<\/b><\/p>\n \nThis press release may include forward-looking statements. Forward-looking statements may include, but are not limited to, statements relating to Stratasys\u2019 and\/or CollPlant\u2019s objectives, plans and strategies, as well as statements, other than historical facts, that address activities, events or developments that Stratasys and\/or CollPlant intend, expect, project, believe or anticipate will or may occur in the future. These statements are often characterized by terminology such as \u201cbelieves,\u201d \u201chopes,\u201d \u201cmay,\u201d \u201canticipates,\u201d \u201cshould,\u201d \u201cintends,\u201d \u201cplans,\u201d \u201cwill,\u201d \u201cexpects,\u201d \u201cestimates,\u201d \u201cprojects,\u201d \u201cpositioned,\u201d \u201cstrategy\u201d and similar expressions and are based on assumptions and assessments made in light of the companies\u2019 respective management\u2019s experience and perception of historical trends, current conditions, expected future developments and other factors believed to be appropriate. Forward-looking statements included in this press release include, but are not limited to, statements regarding the following: the companies\u2019 ability to develop a 3D bioprinter that is based on Stratasys\u2019 P3\u2122<\/sup> 3D printing technology and can be used with CollPlant’s rhCollagen-based BioInk; CollPlant\u2019s expectations regarding the timing and cost of commencing pre-clinical and clinical trials, or at all, with respect to breast implants, tissues and organs based on its rhCollagen based bioinks and other products for medical aesthetics; CollPlant\u2019s ability to obtain favorable pre-clinical and clinical trial results with respect to the foregoing trials; regulatory action with respect to rhCollagen based bioinks and medical aesthetics products including but not limited to acceptance of an application for marketing authorization review and approval of such application, and, if approved, the scope of the approved indication and labeling; commercial success and market acceptance of the companies\u2019 combined 3D bioprinter and\/or future potential collaborative products involving Stratasys\u2019 P3\u2122<\/sup> 3D printing technology and\/or CollPlant’s rhCollagen based bioinks and\/or CollPlant\u2019s regenerative breast implants and\/or other medical aesthetics products; the companies\u2019 ability to establish sales and marketing capabilities or enter into agreements with third parties, including third party distributors and resellers; and the companies\u2019 ability to establish and maintain strategic partnerships and other corporate collaborations. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements. Many factors could cause Stratasys\u2019 or CollPlant\u2019s actual activities or results to differ materially from the activities and results anticipated in forward-looking statements, including, but not limited to, the following: CollPlant\u2019s history of significant losses, its ability to continue as a going concern, and its need to raise additional capital and its inability to obtain additional capital on acceptable terms, or at all; the companies\u2019 reliance on third parties to conduct some or all aspects of the manufacturing of their products; the scope of protection the companies are able to establish and maintain for their respective and joint intellectual property rights and the companies\u2019 ability to operate their respective businesses and their joint collaboration without infringing the intellectual property rights of others; the overall global economic environment; the impact of competition and new technologies; general market, political, and economic conditions in the countries in which the companies operate; projected capital expenditures and liquidity; changes in the companies\u2019 respective strategies; and litigation and regulatory proceedings. More detailed information about the risks and uncertainties affecting Stratasys and CollPlant are contained under the heading \u201cRisk Factors\u201d included in Item 3.D of their most recent annual reports on Form 20-F filed with the SEC on March 3, 2023 and March 29, 2023, respectively, and in other filings that Stratasys and CollPlant have made and may make with the SEC in the future. The forward-looking statements contained in this press release are made as of the date of this press release and reflect Stratasys\u2019 and CollPlant\u2019s current views with respect to future events, and the companies do not undertake and specifically disclaim any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20230404005729\/en\/<\/a><\/span><\/p>\n Stratasys \nInvestor Relations: \nIsrael: \nEMEA: CollPlant KEYWORDS:<\/b> Minnesota United States North America Israel Middle East<\/p>\n INDUSTRY KEYWORDS:<\/b> Other Manufacturing Other Science Technology General Health Engineering Chemicals\/Plastics Manufacturing Surgery Other Health Medical Devices Health Technology Machinery Clinical Trials Machine Tools, Metalworking & Metallurgy Biotechnology Other Technology Software Health Hardware Science Electronic Design Automation<\/p>\n![\"Human](\"https:\/\/mms.businesswire.com\/media\/20230404005729\/en\/1755691\/4\/Breast_Implant.jpg\")
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Corporate & North America:
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Aaron Pearson
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Aaron.pearson@stratasys.com
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1-612-716-9228<\/p>\n
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Yonah Lloyd
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Yonah.lloyd@stratasys.com
\n<\/a>
972-74-745-4919<\/p>\n
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Rosa Coblens
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Rosa.coblens@stratasys.com
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852-9189-7273<\/p>\n
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Jonathan Wake, Incus Media
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Stratasys@incus-media.com
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44-1737-215200<\/p>\n
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Eran Rotem, Deputy CEO & CFO
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Email: Eran@CollPlant.com<\/a><\/p>\n
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